On Thursday, Enerpac Tool Group reached a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 84, up from 72 the day before.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Enerpac Tool Group is not currently offering a proper buying opportunity. See if the stock goes on to form a base that could kick off a new price move.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 3% to 8%. Revenue rose from 2% to 5%.
The company holds the No. 1 rank among its peers in the Machinery-Tools & Related industry group. Applied Indl Techs and Fastenal are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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